Instagram head Adam Mosseri has been talking about bringing NFTs to the platform since last year. The document has now been signed. Mark Zuckerberg announced that NFT will be added to Instagram.
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In a report by Engadget, Meta CEO Mark Zuckerberg said that NFT will come to Instagram. NFT will be added to Instagram within the next few months, he said.
The beginning of the year also brought news of Facebook and Instagram preparing to integrate NFT with their platforms. Such features will be offered on Instagram and Facebook, under which NFT will be able to be set in the profile itself.
Facebook’s Mark Zuckerberg has stated that NFT will come to Instagram, but it is unclear how the app will be used or how the company will implement it.
What is NFT?
The company may launch its NFT marketplace on Instagram or Facebook. NFTs can be purchased and sold on many websites. Similarly, NFTs can be posted on both platforms and those who wish to purchase can do so here only.
NFT transactions are done using cryptocurrencies, which presents a problem. As a result of the introduction of NFT, the company can now accept cryptocurrency transactions on its platforms.
Additionally, cryptocurrency payments are being tested within the instant messaging app WhatsApp. As of recently, WhatsApp head Will Cathcart stated that cryptocurrencies could be sent through WhatsApp in the future. Testing has begun.
Cryptocurrencies and NFTs are a part of Meta’s Metaverse plan. Since the company has invested significantly in the Metaverse, it is necessary that it integrates cryptocurrencies and NFTs on its platform.
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